SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549
                                     ___________

                                      FORM 10-Q

              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                        THE SECURITIES EXCHANGE ACT OF 1934
                    For the quarterly period ended July 31, 2000
                                          OR
              [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
             For the transition period from _____________ to _____________

                         Commission file number: 000-27667

                             Metalline Mining Company
                 (Exact name of registrant as specified in its charter)

              Nevada	                     			91-1766677
        (State or other jurisdiction  	     (IRS Employer Identification
             of incorporation)	                         No.)

                               1330 E. Margaret Ave.
                              Coeur d'Alene, ID 83815
                       (Address of principal executive offices)

                           Registrant's telephone number,
                         including area code: (208) 665-2002

        Securities registered pursuant to Section 12 (b) of the Act: None

           Securities registered pursuant to Section 12 (g) of the Act:

              Common Stock 				               The OTC-Bulletin Board
           Title of each class 		           	Name of each exchange on
                                                 which registered.

       Indicate by check mark whether the registrant (1) has filed all
       reports required to be filed by Section 13 or 15(d) of the
       Securities Exchange Act of 1934 during the preceding 12 months
       (or for such shorter period as the registrant was required to
       file such reports), and (2) has been subject to such filing
       requirements for the past 90 days. Yes [X]  No [  ]
</page>

                   METALLINE MINING COMPANY ANNUAL REPORT
                    ON FORM 10-Q FOR THE QUARTERLY PERIOD
                            ENDED JULY 31, 2000

       	TABLE OF CONTENTS	                                             Page

PART I - FINANCIAL INFORMATION

	Item 1:	Financial Statements . . . . . . . . . . . . . . . . . . . . . 	1

	Item 2:	Management's Discussion and Analysis of
       		Financial Condition and Results of Operation  . . . . . . . .  	1

PART II - OTHER INFORMATION

	Item 1:	Legal Proceedings . . . . . . . . . . . . . . . . . . . . . .  	4

	Item 2:	Changes in Securities . . . . . . . . . . . . . . . . . . . .  	4

	Item 3:	Defaults upon Senior Securities . . . . . . . . . . . . . . .  	4

	Item 4:	Submission of Matters to a Vote	of Security Holders . . . . .  	4

	Item 5:	Other Information . . . . . . . . . . . . . . . . . . . . . .  	4

	Item 6:	Exhibits and Reports on Form 8-K . . . . . . . . . . . . . . . 	4

Index to Financials . . . . . . . . . . . . . . . . . . . . . . . . . . 	5

Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . 		F/S-12

[The balance of this page has been intentionally left blank.]

                                   (i)
</page>
PART I - FINANCIAL INFORMATION

ITEM 1.	Financial Statements.

	The reviewed financial statements of the Company for the
period covered by this report are included elsewhere in this
report, beginning at page F/S-1.

	The reviewed financial statements have been prepared in
accordance with generally accepted accounting principles for the
interim financial information with the instructions to Form 10-Q
and Rule 10-01 of Regulation S-X. Accordingly, they do not
include all of the information and footnotes required by
generally accepted accounting principles for complete financial
statements. In the opinion of the Company's management, all
adjustments (consisting of only normal accruals) considered
necessary for a fair presentation have been included. Operating
results for the nine-month period ended July 31, 2000 are not
necessarily indicative of the results that may be expected for
the full year ending October 31, 2000.

	For further information refer to the financial statements and
footnotes thereto in the Company's Annual Report on Form 10-K for
the year ended October 31, 1999 incorporated by reference herein.

ITEM 2.	Management's Discussion and Analysis of Financial
Condition and Results of Operations.

	RESULTS OF OPERATIONS FOR THE PERIOD ENDED JULY 31, 2000.

	Nine months ended July 31, 2000 compared to the nine months
ended July 31, 1999:

During the nine months ended July 31, 2000, the Company generated
no revenue other than interest income of $5,084. General and
administrative expenses decreased to $670,884 for the nine-month
period ended July 31, 2000 as compared to $948,774 for the nine-
month period ended July 31, 1999. The decrease is principally
attributed to reduced expenses charged to it's Mexican
properties. For the nine months ended July 31, 2000, the Company
experienced a loss of $589,072, or $0.07 per share, compared to a
loss of $947,014, or $0.13 per share, during the comparable
period in the previous year.

	LIQUIDITY AND CAPITAL RESOURCES.

	Metalline Mining Company (the "Company") is a development
stage enterprise formed under the laws of the State of Nevada, on
August 20, 1993, to engage in the business of mining. The Company
has no operating history and is subject to all the risks inherent
in a new business enterprise.  The likelihood of success of the
Company must be considered in light of the problems, expenses,
difficulties, complications and delays frequently encountered in
connection with a new business, and the competitive and
regulatory environment in which the Company will operate.

	From inception until May 1996, the Company was essentially
dormant having as its only asset unpatented mining claims located
in the State of Montana ("Kadex Property"). Since May 1996, the
focus of the Company has been the Sierra Mojada Project in
Mexico, and the Company has dropped the Kadex Property claims.

	 The Company's plan of operation, subject to maintaining
sufficient funds, calls for continued geologic mapping of the
underground workings, sampling, and drilling to explore for
additional mineralization and to continue to develop an ore
reserve.
Page 1
	Due to the Company's lack of revenues, the Company's
independent certified public accountants included a paragraph in
the Company's 1999 financial statements relative to a going
concern uncertainty. The Company has financed its obligations
during the 1998-99 fiscal year by its sale of 1,068,800 shares at
prices ranging between $0.90 and $1.75 per share. During the
current period, the Company has realized $1,199,485 from the sale
of 1,107,500 shares.

	The Company is engaged in the business of mining.  The Company
currently owns one mining property located in Mexico known as the
Sierra Mojada Property.  The Company conducts its operations in
Mexico through its wholly owned subsidiary corporation, Minera
Metalin S.A. de C.V. ("Minera Metalin").

	The Sierra Mojada Property is comprised of eight concessions
totaling 7,060 hectares (17,446 acres). The concessions were
acquired by purchase agreements from the titled owners. The
Company controls 100% of the concessions. The Company is current
on its annual payments.

	The Sierra Mojada Mining District is located in the west
central part of the state of Coahuila, Mexico, near the Coahuila-
Chihuahua state border some 200 kilometers south of the Big Bend
of the Rio Grande River. The principal mining area extends for
some 5 kilometers in an east-west direction along the base of the
precipitous, 1,000 meter high, Sierra Mojada Range.

	Vehicle access from Torreon is by 200 kilometers on paved road
to the Penoles chemical plant at Laguna del Rey and then another
50 kilometers of gravel road to Sierra Mojada.  There is a well
maintained, 1200 meter, gravel airstrip.  The District has high
voltage electric power and is served by a rail line, which was
constructed from Escalon to the district in 1891 and later
connected to Monclova.

	The initial discovery of silver ore in the Sierra Mojada
Property was made in 1879.  Over the next 12 years numerous small
mines developed along an oxidized silver lead ore body known as
the "lead manto" (a bed, layer or strata).  The lead manto was
mined continuously for 3 kilometers and discontinuously for
another 2 kilometers.  Ore was selectively mined and hauled by
wagon to Escalon on the railroad main line from El Paso to Mexico
City; from there it went to smelters in Mexico and the United
States.

	In September of 1891 the Mexican Northern Railroad completed
its spur line from Escalon to the district.  Rail access
stimulated development and the period from 1891 to the late
1920's was the peak of productivity of the district. The main
lead manto was nearly mined out by 1905, the same year that the
discovery of the first silver-copper ore body was made.
Additional discoveries of silver, silver-copper, and silver-
copper-zinc-lead ores provided production through the 1930's.
Between 1922 and 1931 additional lead manto silver-lead ore was
discovered and mined to the southwest for some 1,400 meters under
the Sierra Mojada range, this manto was eventually mined for more
than 2 kilometers.

	By the mid 1920's many of the mines were under control of
Penoles Corporation ("Penoles") and ASARCO Incorporated
("ASARCO").  ASARCO ceased mining in the district in the late
1930's.  Both companies still owned properties during the 1940's
and Penoles mined until the late 1950's when the Mineros Nortenos
Cooperative acquired the Penoles properties.  The Mineros
Nortenos Cooperative ("Mineros Nortenos") has operated the San
Salvador, Encantada and Fronteriza mines since 1957 and direct
shipped high-grade oxide zinc and lead-silver ore to smelters in
Mexico.

	The lead manto produced 3 to 3.5 million tons prior to 1905
with another 1.5 million tons of similar ore coming from other
ore bodies to the west and to the southwest.

Page 2
 	Mineros Nortenos has mined about 600,000 tons of predominantly
oxide zinc ore with grades of 20 to 50% zinc. Some of this ore
was oxide silver-lead and silver, copper, zinc and lead sulfide
at grades of 1 to 4 kilogram silver per ton, 1 to 5% copper, 10
to 30% zinc and 30 to 70% lead.  Production records from 1978 to
1981 for the San Salvador mine average 33.5% zinc.

	The Sierra Mojada Property has produced in excess of 10
million tons of high-grade ore that graded in excess of 30% lead,
20% zinc, 1% copper and 1 kg  (31 ounces) silver per ton that was
shipped directly to the smelter.  The district has never had a
mill to concentrate ore.  All of the mining was done selectively
for ore of sufficient grade to direct ship; mill grade ore was
left unmined.  More than 50 kilometers of underground workings
are spread through the 5 kilometer by 2 kilometer area from which
more than 45 mines have produced ore.  The deepest workings have
ore grade mineralization and provide some of the best targets for
reserve development.  In spite of the amount of historic work,
when a map of all of the historic workings is viewed there is
much more unexplored area in the 5 by 2 kilometer area than has
been explored and the vertical extent greater than 100 meters is
totally unexplored.

	The sediments are predominantly carbonate with some sandstone
and shale and the attitudes are near horizontal.  The mines are
dry and the rocks are competent, there is very little unstable
ground and the ore thickness is amenable to high volume
mechanized mining methods. Sierra Mojada has ideal mining
conditions and high grades, to enable it to be a low-cost
producer.

	Based upon the foregoing, the Company is of the opinion that
the magnitude of the Sierra Mojada mineral system and its
exploration potential is capable of providing new reserves for
many more years of mining.  However, there is no assurance as to
the quantity or quality of the undeveloped reserves. No
commercially mineable ore body has been delineated on the
properties, nor have any reserves been identified.

	There is potential for long-term reserve expansion within the
known extent of the mineral systems. There is potential to
discover ore deposits in unexplored portions of the land position
and at depth in unexplored stratigraphy. There is however, no
assurance that the Company will have the monetary resources to
continue to explore for, develop, or retrieve any of the minerals
located in the Sierra Mojada Property.

	Minera Metalin has signed a Joint Venture Letter Agreement
with Minera North S. de R.L. de C.V. a wholly owned subsidiary of
North Limited of Melbourne Australia, a major international
mining company.  The letter agreement is to be followed with a
formal Joint Venture Agreement.  The agreement allows North to
acquire a 60% participating interest in Sierra Mojada by
exploring and completing a feasibility study (which shall be of a
standard acceptable to international banks as enabling them to
lend funds to the project) over a "Earn In Period" of not more
than 5 years.

	In March 1995, the Financial Accounting Standards Board issued
a statement titled "Accounting for Impairment of Long-Lived
Assets." This standard became effective for years beginning after
December 15, 1995. In complying with this standard, the Company
has reviewed its long-lived assets quarterly to determine if any
events or changes in circumstances have transpired which indicate
that the carrying value of its assets may not be recoverable. The
Company determines impairment by comparing the undiscounted
future cash flows estimated to be generated by its assets to
their respective carrying amounts. The Company does not believe
any adjustments are needed to the carrying value of its assets
October 31, 1999 and 1998.

Page 3
	Transactions in equity instruments with non-employees for
goods or services must be accounted for on the fair value method.
The Company has adopted the fair value accounting prescribed by
FAS 123.

	CASH FLOWS FOR THE NINE MONTHS ENDED JULY 31, 2000 WERE AS
FOLLOWS:

During the nine-month period ended July 31, 2000, the Company's
cash position increased $526,412, to $767,074. During the nine-
month period, the Company used $517,882 in operating activities,
which were less than the reported $589,072 net loss due to
changes in operating assets and liabilities. Investing activities
used $155,191 for mining property acquisitions and equipment
purchases, and financing activities realized $1,199,485 from the
sale of 1,107,500 common shares.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.  None.

Item 2. Changes in Securities.

	Neither the constituent instruments defining the rights of the
registrant's securities holders nor the rights evidenced by the
registrant's outstanding common stock have been modified,
limited, or qualified. The Company sold 950,000 shares of its
common stock for $0.855 per share in November 1999 and 50,000
shares of its common stock for $0.75 per share in December 1999.
In April 2000 the Company issued 36,000 shares for services
rendered. In June and July 2000 the Company sold 107,500 shares
of its common stock for $3.25 per share.

Item 3. Defaults Upon Senior Securities.

	The registrant has no outstanding senior securities.

Item 4. Submission of Matters to a Vote of Security Holders.

	None.

Item 5. Other Information.

	None.

Item 6. Exhibits and Reports on Form 8-K.

EXHIBITS.  The following exhibit is filed as part of this report:

	Exhibit 27.0	Financial Data Schedule.

REPORTS ON FORM 8-K.	No reports on Form 8-K were filed by the
registrant during the period covered by this
report.
                                Page 4
</page>
<PAGE>
                        METALLINE MINING COMPANY

                      INDEX TO FINANCIAL STATEMENTS

                                                                    	PAGE

Financial Statements:

	Balance Sheets as of July 31, 2000
	and October 31, 1999 . . . . . . . . . . . . . . . . . . . . . . . 	F/S-1

	Statements of Operations for the three and nine
	month periods ended July 31, 2000 and July 31,
	1999, and for the period from inception
	(November 8, 1993) to July 31, 2000 . . . . . . . . . . . . . . . . 	F/S-2

	Statements of Changes in Stockholder's Equity
	for the period from inception (November 8, 1993)
	to July 31, 2000 . . . . . . . . . . . . . . . . . . . . . . . . .  	F/S-3

	Statements of Cash Flow for the three and nine
	month periods ended July 31,  2000 and July 31,
	1999, and for the period from inception
	(November 8, 1993) to July 31, 2000 . . . . . . . . . . . . . . . . 	F/S-9

	Notes to Financial Statements . . . . . . . . . . . . . . . . . . . 	F/S-10

	Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F/S-12

[The balance of this page has been intentionally left blank.]

                                      Page 5
</page>
<PAGE>
                          METALLINE MINING COMPANY
                        (An Exploration Stage Company)
                               BALANCE SHEETS
<TABLE>
<CAPTION>

                                        	July 31,               	October 31,
	                                        2000	                   1999
	                                        (Unaudited)
	                                        ----------             	-----------
<S>	                                     <C>                     <C>
ASSETS

CURRENT ASSETS
	Cash	                                    $ 767,074	              $ 240,662
	Prepaid expenses	                            5,706	                  3,127
	Employee advances	                           9,119	                  5,208
			                                      ----------              	---------
  	Total Current Assets	                    781,899                	248,997
			                                      ----------              	---------
MINERAL PROPERTIES                       	1,248,482              	1,103,671
	                                        ----------              	---------
PROPERTY AND EQUIPMENT
	Office equipment                           	81,499                 	71,119
	Mining equipment and vehicles              	61,047                 	61,047
	Less: Accumulated depreciation            	(79,826)               	(62,328)
	                                        ----------              	---------
  	Total Property and Equipment	             62,720                 	69,838
	                                        ----------              	---------
TOTAL ASSETS	                           $ 2,093,101            	$ 1,422,506
	                                         =========              	=========

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
 	Accounts payable                         $	10,723                	$ 3,739
 	Deposits payable	                               -                 	37,500
	Accrued liabilities	                        13,725                 	13,027
	                                         ---------              	---------
  	Total Current Liabilities	                24,448	                 54,266
	                                         ---------              	---------
COMMITMENTS AND CONTINGENCIES	                    -                      	-
	                                         ---------              	---------
STOCKHOLDERS' EQUITY
	Common stock, $0.01 par
	value; 50,000,000 shares
	authorized, 8,251,095 and
	7,215,095 shares issued and
 	outstanding respectively.                 	83,587                 	72,152
 	Additional paid-in capital             	5,255,400              	3,977,350
 	Stock options and warrants               	288,000                	288,000
	Deficit accumulated during
	exploration stage                      	(3,558,334)            	(2,969,262)
	                                        ----------              	---------
		Total Stockholders' Equity	             2,068,653	              1,368,240
	                                        ----------              	---------
TOTAL LIABILITIES AND
	STOCKHOLDERS' EQUITY	                   $2,093,101             	$1,422,506
	                                        ==========              	=========
The accompanying notes are an integral part of these financial
statements.
</TABLE>
                                     F/S-1
</page>
<PAGE>
                         METALLINE MINING COMPANY
                      (An Exploration Stage Company)
                         STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
						                                                             										      Period from
						                          Three Monts Ended	      		Nine months Ended			     November 8, 1993
					                           -----------------        	----------------- 		     (Inception)
						                          July 31,   	 July 31,   		July 31,	   July 31,	 	  through
						                          2000  		     1999		   	   2000	   	   1999			      July 31,
						                          (Unaudited) 	(Unaudited)		(Unaudited)	(Unaudited)		(Unaudited)
						                          ------------	----------- 	----------- 	---------		 -------------
<S>                             <C>          <C>          <C>          <C>         <C>
REVENUES					                    $      -		   $      -			  $      -		   $      -			 $      -
	                                 -------		    -------			   -------		     ------			  -------
GENERAL AND ADMINISTRATIVE
EXPENSES
Salaries				                       54,000       54,000      162,000      162,000 	   539,778
Administrative expenses		          19,741	      13,155       74,144       38,354     163,162
Professional services			           25,326       48,855      123,600       76,706   1,123,829
Property expenses	             		 (21,649)      33,373       83,085      515,127 	 1,106,699
Consulting				                          -            -  	    90,219       10,337 	    90,219
Travel					                        16,203        7,003	      49,140       21,328      49,140
Marketing and research		           27,708       38,840       71,199      108,292     150,692
Financing Costs			                      -		          -	        	  -	           -		   276,000
	Depreciation				                   5,832	       6,210 		    17,497       18,630		    80,242
							                           -------      -------      -------      -------	   --------
Total Expenses		                  127,161      201,436	     670,884     	948,774	  3,633,761
                              				-------      -------      -------     	-------   ---------
OPERATING LOSS				               (127,161)    (201,436)    (670,884)    (948,774)	(3,633,761)
						                            -------      -------		    -------      -------   ---------
OTHER INCOME (EXPENSES)
Interest income			                  1,875        1,764        5,084        1,764       8,298
Interest expense			                     - 	  	       -  	         -	     	    (4) 	   (9,599)
Refund of Mexican taxes paid		          -            - 		    76,728 	          -			   76,728
						                            -------     	-------      -------      	------   ---------
		Total other income (expense) 	    1,875	       1,764	      81,812        1,760      75,427
                            						-------     	-------      -------      	------   ---------
LOSS BEFORE
INCOME TAXES                    $(125,286)   $(199,672) 		$(589,072)  	$(947,014)$(3,558,334)
	                                ========     ========		   ========	     ======= 	 =========
NET LOSS PER COMMON SHARE       $   (0.01)   $   (0.03) 		$   (0.07) 	 $   (0.13)	   $ (0.97)
                           						========    	========	   	========	     ========		=========
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING             	8,320,262	   6,844,239		  8,248,595    7,073,739 	 3,659,941
					                             =======	     =======	    	=======	     =======		  =======
---------------------
The accompanying notes are an integral part of these financial statements.
</TABLE>                         			F/S-2
</page>
<PAGE>
                        METALLINE MINING COMPANY
                      (An Exploration Stage Company)
                   STATEMENTS OF STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>
                                                                      						Accumulated
			                      Common Stock		                Stock      Stock 	   Deficit
		                       ----------------- 	Additional	Sub-	      Options   During Ex-
                       		Number of        		Paid-in	   scriptions	and	      ploration
		                       Shares	     Amount	Capital	   Receivable	Warrant   Stage	       Total
		                       --------	   ------	-------	   ----------	-------   --------	    -----
<S>	                     <C>	        <C>	   <C>	       <C>	       <C>	      <C>	         <C>
Issuance in August
	1993 (prior to
	inception) common
	stock without value	    960,800	   $ 9,608	$(9,608)	   $    -	    $     -	  $     -	     $     -

Reverse stock split
	of 5:1, reducing
	common stock to
	192,160 shares	        (768,640)   	(7,686) 	7,686         	-	          -	        -	           -

Net loss for the
	year ending
	October 31, 1994	             -         	-	      -         	-          	-   	 (8,831)	     (8,831)
		                       -------	   -------	-------   	-------	    -------	    ------ 	      -------
Balances at
	October 31, 1994	       192,160	     1,922 	(1,922)	        -	          -	    (8,831)	     (8,831)

Stock split 3:1, in-
	creasing common
	stock to
	576,480 shares	         384,320	     3,843	 (3,843)	        -          	-         	-	           -

Net loss for the
	year ending
	October 31, 1995	             -	         -	      -	         -	          -	    (7,861)	     (7,761)
                       		-------	   -------	-------   	-------	    -------	     ------  	    ------
Balance at
	October 31, 1995	       576,480   	$ 5,765	$(5,765)	    $   -	     $    -	   $(16,592)	   $(16,592)
                       		-------   	------- -------   	-------	    -------	     -------	    -------
-------------------------------------
Table continued on next page.
</TABLE>
The accompanying notes are an integral part of these financial statements.
                                        F/S-3
</page>
<PAGE>

                            	METALLINE MINING COMPANY
	                         (An Exploration Stage Company)
	                       STATEMENTS OF STOCKHOLDERS' EQUITY
	                                     (continued)
<TABLE>
<CAPTION>

                                                                     								Accumulated
                          Common Stock                		Stock     	Stock    	Deficit
	                         ---------------   Additional  Sub-	      Options   During Ex-
	                        	Number of		       Paid-in	    scriptions	and	      ploration
		                        Shares	   Amount	 Capital	    Receivable	Warrants  Stage      Total
                        		-------- 	------	 -------    	---------- -------- 	--------	  -----
<S>	                      <C>	      <C>	    <C>	        <C>	       <C>	      <C>	       <C>
Balance brought
Forward	                 576,480 	 $ 5,765	  $(5,765)	   $   -	     $   -	    $(16,592)	 $(16,592)

Issuance in November
	1995 of shares for cash
	at $0.01 per share	      45,000	      450        	-        	-         	-     	      -	         -

Issuance in November
	1995 of shares for cash
	at $1.00 per share	      15,859	      159	   15,700	        -	         -	           -	    15,859

Issuance in June 1996 of
	shares for cash
	at $0.10 per share	   1,305,000	   13,050	  117,450        	-	         -	           -	   130,500

Issuance in June 1996 of
	shares at $0.01 per
	share in exchange for
	assignment of mineral
	property rights valued
	at $9,000	              900,000	    9,000	        -	        -	          -	          -	     9,000

Issuance in October
	1996 of shares for
	shares for CAD
	computer equipment
	at $0.10 per share	     150,000	    1,500	    13,500	       -	          -	          -	    15,000

Issuance in October
	1996 of shares for
	services at $0.10
	per share	              140,000	    1,400    	12,600	       -	          -	          -	    14,000

Net loss for the
	year ending
	October 31, 1996	             -	        -	         -	       -	          -	    (40,670)	   (40,670)
                       		-------  	-------   	------- 	-------	    -------	     -------	    -------
Balances at
	October 31, 1996	     3,132,339	  $31,324	  $153,485	   $   -	      $   -	   $(57,262)	  $127,547
                      		 -------	  -------	   -------	 -------	    -------	     -------	    -------
------------------------
Table continued on next page.
The accompanying notes are an integral part of these financial statements.
</TABLE>
                                    F/S-4
</page>
<PAGE>
                       	METALLINE MINING COMPANY
	                    (An Exploration Stage Company)
	                  STATEMENTS OF STOCKHOLDERS' EQUITY
	                              (continued)
<TABLE>
<CAPTION>
							                                                                    	Accumulated
			                   Common Stock              		   Stock	      Stock      Deficit
		                    --------------    	Additional	 Sub-	       Options    During Ex-
		                    Number of		        Paid-in	    scriptions	 and	       ploration
		                    Shares    	Amount 	Capital	    Receivable	 Warrants  	Stage 	     Total
                    		--------	  ------	 -------    	----------	 --------	  --------	   -----
<S>	                  <C>	       <C>	    <C>	        <C>	        <C>	       <C>	        <C>
Balance brought
	Forward	             3,132,339	 $ 31,324	$ 153,485	  $   -	      $   -	     $(57,262)	  $127,547

Issuance in February
	1997 of shares
	for services at $0.30
	and $0.35 per share	   133,800	    1,338	   44,245	      -	          - 	           -	          -

Issuance in March and
	April of shares for
	cash at $0.35
	per share	             250,000	    2,500	   85,000	      -          	-        	    -	     87,500

Issuance in May and
 June 1997 of shares
 for cash at $0.35
	per share	             181,600	    1,816   	61,744	      -	          -	            -	     63,560

Issuance in May and
	June 1997 of shares
	for services at
	$0.35 per share	        62,500	      625	   21,250	      -	          -	            -	     21,875

Issuance in August
	1997 of shares for
	payment of loan at
	$0.315 per share      	100,200    	1,002   	30,528	      -          	-	            -	     31,530

Issuance in August
	1997 of shares for
	cash at $0.90
	per share	             420,000	    4,200	  373,800	      -	          -	            -	    378,000

Issuance in August
	1997 of shares for
	services at $1.00
	per share	              95,000	      950	   94,050	      -	          -	            -	     95,000

Issuance in October 1997
	of shares for cash
	at $1.00 per share	     75,000	      750	   74,250	      -	          -	            -	     75,000

Issuance of option
	(for 300,000 shares at
	$2.25 per share)for cash	    -	        -	    3,000	      -	          -   	         -	      3,000

Net loss for year ending
	October 31, 1997	            -	        -        	-	      -	          -	     (582,919) 	 (582,919)
                      		-------  	-------  	-------	-------    	-------      	-------	    -------
Balances at
	October 31, 1997	    4,450,439  	$44,505	 $941,352	  $   -	      $   -	   $ (640,181)	  $345,676
	---------------	       -------	  -------	  -------	-------	    -------	      -------	    -------
Table continued on next page.
The accompanying notes are an integral part of these financial statements.
</TABLE>
                              F/S-5
</page>
<PAGE>
                       	METALLINE MINING COMPANY
	                    (An Exploration Stage Company)
	                  STATEMENTS OF STOCKHOLDERS' EQUITY
	                                (continued)
<TABLE>
<CAPTION>
							                                                                    	Accumulated
			                  Common Stock		                   Stock	      Stock     Deficit
		                   -------------- 	   Additional    Sub-	       Options   During Ex-
		                   Number of		        Paid-in       scriptions 	and       ploration
		                   Shares	   Amount	  Capital       Receivable 	Warrants  Stage	      Total
	                   	--------	 ------	  -------	      ---------- 	-------- 	--------	   -----
<S>	                 <C>	      <C>     	 <C>	         <C>	        <C>	      <C>	        <C>
Balance brought
	forward 	           4,450,439	$44,505	   $941,352	    $   -	      $   -	    $(640,181)	 $345,676

Issuance in November
	and December 1997
	of shares for cash
	at $1.00/share	       403,500 	$4,035	   $399,465	        -	          -	            -	   403,500

Issuance of options
	(for 1,200,000
	shares at $0.90
	per share) for cash	        -	      -	    120,000        	-	          -	            -	   120,000

Issuance of options
	for financing fees	         -	      -          	-	        -	     60,000	            -	    60,000

Issuance of warrants
	for consulting fees	        -	      -	          -	        -	    117,000	            -	   117,000

Issuance in November and
	December 1997 of shares
	for services at $0.35
	and $1.00 per share	   41,800	    418	     21,882	        -	          -	            -  	  22,300

Issuance in February
	1998 of shares for
	mine data base
	at $1.625 per share	  200,000	  2,000	    323,000	        -	          -	            -	   325,000

Issuance in February
	and March 1998 of
	shares for cash at
	$1.00 and $0.87
	per share	            345,000	  3,450	    338,495	        -	          -	            -	   341,945

Issuance in June and
	July 1998 of shares
	for cash at $1.00
	per share	             95,000	    950	     94,050        	-	          -	            -	    95,000

Issuance in September
	and October 1998 of
	shares for cash and
	receivables at $1.00
	per share	            555,000	  5,550	    519,450 	(300,000)         	-	            -	   225,000

Net loss for year ending
	October 31, 1998	           -	      -	          -	        -	          -	     (906,036)	 (906,036)
                     		-------	-------    	-------	  -------	    -------	      -------	   -------
Balance at
	October 31, 1998	   6,090,739	$60,908	 $2,757,694	$(300,000)	  $177,000	  $(1,546,217)$1,149,385
------------------	    -------	-------	    -------	  -------	    -------	      -------	   -------
Table continued on next page.
The accompanying notes are an integral part of these financial statements.
</TABLE>
                                F/S-6
</page>
<PAGE>
	                        METALLINE MINING COMPANY
	                      (An Exploration Stage Company)
                     	STATEMENTS OF STOCKHOLDERS' EQUITY
	                              (continued)
<TABLE>
<CAPTION>
						                                                                      		Accumulated
			                   Common Stock		                   Stock	     Stock  	    Deficit
		                    -----------------	  Additional	  Sub-	      Options	    During Ex-
                    		Number of		         Paid-in	     scriptions	and	        ploration
                    		Shares	   Amount	   Capital	     Receivable	Warrants	   Stage	      Total
                      -------- 	-------  	-------     	----------	--------	   --------	   -----
<S>	                  <C>	      <C>	      <C>	         <C>	       <C>	        <C>	        <C>
Balance brought
	forward	             6,090,739	 $60,908	  $2,757,694	  $(300,000)	$177,000	  $(1,546,217) 	$1,149,385

Stock subscription
	received	                    -       	-           	-    	300,000        	-	            -	     300,000

Expiration of
	stock options	               -	       -	      60,000	          -  	(60,000)	           -	           -

Issuance of stock
	options for
	financing fees	              -	       -	           -	          -	  216,000 	           -	     216,000

Exercise of stock
	warrants at
	$0.90 per share	       250,000	   2,500	     267,500	          -	  (45,000)	           -	     225,000

Issuance in November
	1998 and March -
	August, 1999 shares
	for cash at $1.00
	per share	             776,000	   7,760	     768,240          	-	        -	            -	     776,000

Issuance in August
	1999 of shares for
	drilling fees at
	$0.90 per share	        55,556	     556	      49,444	          -	        - 	           -	      50,000

Issuance in August
	1999 shares for cash
	at $1.75 per share	     42,800	     428	      74,472	          -	        - 	           -	      74,900

Net loss for year ending
	October 31, 1999	            -	       -	           -	          -  	      -	   (1,423,045) 	(1,423,045)
                      		-------	 -------	     -------	    -------	  -------	      -------	     -------
Balance at
	October 31, 1999    	7,215,095	 $72,152  	$3,977,350	      $   -	 $288,000	  $(2,969,262) 	$1,368,240
	                      	-------	 -------	     -------	    -------	  -------	      -------	     -------
Table continued on next page.
The accompanying notes are an integral part of these financial statements.
</TABLE>
                                F/S - 7
</page>
<PAGE>
                        METALLINE MINING COMPANY
                     (An Exploration Stage Company)
                   STATEMENTS OF STOCKHOLDERS' EQUITY
                               (continued)
<TABLE>
<CAPTION>
				                                                                      				Accumulated
			                  Common Stock		                       Stock	     Stock 	  Deficit
                     ----------------   	    Additional	  Sub-      	Options 	During Ex-
		                   Number of		             Paid-in	     scriptions	and	     ploration
                   		Shares	       Amount	   Capital	     Receivable	Warrants	Stage	      Total
		                   --------	     -----	    -------	     ----------	--------	--------	   -----
<S>                  <C>           <C>       <C>          <C>        <C>      <C>         <C>
Balance brought
	forward	             7,215,095	   $72,152	  $3,977,350	   $     -    $288,000	 $(2,969,262)	$1,368,240
                      		-------	   -------	     -------	   ------- 	   -------	     -------	    -------
Issuance in November
	1999 shares for
 cash at $0.855
	per share	             950,000	     9,500	     802,750	         -	          -	           -	    812,250

Issuance in December
	1999 shares for cash
 at $0.75 per share	     50,000	       500	      37,000	         -	          -	           -	     37,500

Issuance in April 2000
	shares for consulting
 services and
 receivables at
	$2.51 per share	        36,000	       360	      90,000	      (360)	         -	           -	     90,000

Stock subscription
	received	                    -	         -	           -	       360          	-	           -	        360

Issuance in June 2000
	shares for cash at
 $3.25 per share	       100,000	     1,000	     324,000	         -	          -	           -	    325,000

Issuance in July
	2000 shares for cash
 at $3.25 per share	      7,500        	75	      24,300	         -	          -	           -	     24,375

Net loss for the nine
	months ending July
 31, 2000 (unaudited)	        -	         -	           -	          -	          -	    (589,072) 	(589,072)
	                   	---------- 	---------	 -----------	     ------	  ---------	     ------	    ---------
Balances at July 31,
 2000 (unaudited)     8,358,595	  $ 83,587	  $5,255,400	     $    -	  $ 288,000  $(3,558,334) $2,068,653
                   		----------  	--------	 -----------	      -----	    -------	   ----------	 ----------
------------------------
The accompanying notes are an integral part of these financial statements.
</TABLE>
                               F/S - 8
</page>
<PAGE>
                       METALLINE MINING COMPANY
                    (An Exploration Stage Company)
                        STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
                                                     											Period from
					                          Nine months Ended		              November 8, 1993
					                          -------------------	             (Inception)
					                          July 31,	        July 31,		      through
					                          2000		           1999		          July 31, 2000
					                          (Unaudited)	     (Unaudited)    	(Unaudited)
	                               -------          ---------       ----------
<S>                             <C>              <C>            <C>
Cash flows from
operating activities:
Net loss	                        $(589,072)	      $(947,014)	    $(3,558,334)
Adjustments to reconcile
	 net loss to cash used
  by operating activities:
	Depreciation	                      17,497	          18,630	          80,242
	Stock given in exchange
	 for services	                     90,000	               -	         338,758
	Stock options for
	 operating expenses                    	-               	-         	393,000

Changes in operating assets
 and liabilities:
	(Increase) decrease in
	 accounts receivable	                   -	               -	           2,849
	(Increase) decrease in
	 prepaid expenses	                 (2,579)          	1,331	          17,906
	(Increase) decrease in
	 employee advances                	(3,911)	              -	         (35,579)
	Increase (decrease) in
	 accounts payable	                (30,515)        	(12,198)        	(26,777)
	Increase (decrease) in
	 accrued liabilities	                 698	          (1,128)	         13,726
		                               ---------	        --------	        --------
Net cash used by
	 operating activities           	(517,882)       	(940,379)     	(2,774,209)
		                               ---------	        --------	      ----------
	Cash flows from
	 investing activities:
	Purchase of equipment	            (10,380)	              -	        (127,543)
	Acquisition of mining
	 properties	                     (144,811)	       (192,600)	       (900,485)
                                 ---------         --------         --------
Net cash used by
	 investing activities	           (155,191)	       (192,600)	     (1,028,028)
                                  --------        ---------        ---------
Cash flows from
	 financing activities:
	Stock given in exchange
	 for loan	                              -	               - 	         31,530
	Proceeds from sales of
	 common stock	                  1,199,485	         968,000	       4,341,699
	Proceeds from sales
	 of options	                            -	               -         	123,000
	Deposits for sale of stock	             -	               -	          87,500
	Payment of subscriptions
	 receivable	                            -	         300,000	               -
	Re-payments on
	 shareholders' loans	                   -	               -	         (14,418)
                                    ------          -------         --------
Net cash provided by
	financing activities:          	1,119,485	       1,268,000	       4,569,311
                                  --------        ---------        ---------
Net increase (decrease) in cash 	  526,412	         135,021	         767,074
Cash beginning of period          	240,662         	313,322	               -
                                  --------         --------          -------
Cash at end of period            	$767,074	        $448,343	        $767,074
                                  ========         ========         ========
Supplemental cash
	flow disclosures:
	Income taxes paid in cash	         $    -	           $   4	         $ 9,599
	Interest paid in cash	             $    -	           $   -	         $     -

Non-cash financing activities:
 Common stock issued for
	 services	                       $ 90,000	           $   -	        $338,758
 Common stock issued
	 for mineral properties         	$      -	           $   -	        $348,000
 Common stock issued
	 for equipment	                  $      -	           $   -	        $ 15,000
 Common stock issued for
	 payment of debt	                $      -	           $   -	        $ 80,000
 Common stock issued for
	 subscription receivable        	$      -	           $   -	        $300,000
 Common stock options issued
	 for services	                   $      -	           $   -	        $117,000
 Common stock options issued
	 for financing fees	             $      -	           $   -	        $276,000
The accompanying notes are an integral part of these financial statements.
</TABLE>
                               F/S-9
</page>
<PAGE>
                         METALLINE MINING COMPANY
                       An Exploration Stage Company
                     Notes to the Financial Statements
                               July 31, 2000

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Metalline Mining Company ("the Company") was incorporated in the
state of Nevada on November 8, 1993 as the Cadgie Company for the
purpose of acquiring and developing mineral properties. The Cadgie
Company was a spin-off from its predecessor Precious Metal Mines,
Inc.  The Articles of Incorporation of Cadgie Company were executed
on August 20, 1993. On June 28, 1996, at a special directors meeting,
the Company's name was changed to Metalline Mining Company. The
Company's fiscal year-end is October 31.

The Company's efforts have been concentrated in expenditures related
to exploration properties, principally in the Sierra Mojada Project,
located in Coahuila, Mexico. The Company has not determined whether
the exploration properties contain ore reserves that are economically
recoverable.  The ultimate realization of the Company's investment in
exploration properties is dependent upon the success of future
property sales, the existence of economically recoverable reserves,
the ability of the Company to obtain financing or make other
arrangements for development, and upon future profitable production.
The ultimate realization of the Company's investment in exploration
properties cannot be determined at this time, and accordingly, no
provision for any asset impairment that may result, in the event the
Company is not successful in developing or selling these properties,
has been made in the accompanying financial statements.

The Company is actively seeking additional capital and management
believes its properties can ultimately be sold or developed to enable
the Company to continue its operations. However, there are inherent
uncertainties in mining operations and management cannot provide
assurances that it will be successful in this endeavor. Furthermore,
the Company is in the development stage, as it has not realized any
revenues from its planned operations.

The costs of acquiring, exploring, and developing mineral properties
are capitalized by project area. Costs to maintain the mineral rights
and leases are expensed are incurred. When a property reaches the
production stage, the related capitalized costs will be amortized,
using the units of production method on the basis of periodic
estimates of ore reserves. Mineral properties are periodically
assessed for impairment of value and any losses are charged to
operations at the time of impairment.

NOTE 2 - MINERAL PROPERTIES

SIERRA MOJADA MINING CONCESSION
In June of 1996, USMX (now named Dakota) and the Company entered into
a joint venture agreement, whereby the Company could acquire a 65%
interest in a mining concession named the Sierra Mojada Project,
located in Coahuila, Mexico. Under the terms of the agreement, the
Company was to contribute two million dollars ($2,000,000) in work
commitments over the following seven years. After the execution of
the USMX agreement, Dakota's interest (35%) in the joint venture was
sold to an entity, which subsequently defaulted on its joint venture
obligations.  This action in 1998 triggered the elimination of the
joint venture and resulted in the Company assuming 100% control of
the Sierra Mojada concession without the need to spend $2,000,000 to
vest its interest.

F/S - 10
SIERRA MOJADA EXPLORATION CONCESSIONS
In the twelve-month period of August 23, 1996 to September 2, 1997,
the Company executed five separate agreements for the acquisition of
exploration concessions in the same mining region as the Sierra
Mojada Project in Mexico.  Each agreement enables the Company to
explore the underlying property by paying stipulated annual payments,
which shall be applied in full toward the contracted purchase price
of the related concession.

Under the terms of the agreements, the Company is obligated to pay
the following amounts over the following two years:
	Year 1	3,355,384
	Year 2	    103,076

On October 7, 1999 the Company announced the acceptance of a joint
venture with North Limited. The agreement gives North Limited the
right to earn into 60% of the Sierra Mojada by providing all funds
necessary to complete a feasibility study that is acceptable to
international banking institutions for lending development capital.
North Limited is a large Australian mining company based in
Melbourne, Australia and was known as North Broken Hill Peko before a
name change in 1994. North Limited is dedicated to natural resource
development that produces iron, uranium, base and precious metals,
and forestry products.

NOTE 3 - FINANCIAL STATEMENTS

The financial statements of Metalline Mining Company, including
herein, have been prepared without audit, pursuant to the rules and
regulations of the Securities and Exchange Commission. Although
certain information normally included in financial statements
prepared in accordance with generally accepted accounting principles
has been condensed or omitted, the Company believes that the
disclosures are adequate to make the information presented not
misleading. These financial statements should be read in conjunction
with the financial statements and notes thereto included in the
Company's annual report on Form 10-K for the fiscal year ended
October 31, 1999.

The financial statements included herein reflect all normal recurring
adjustments that, in the opinion of management, are necessary for a
fair presentation. The results for interim periods are not
necessarily indicative of trends or of results to expected for a full
year.
[The balance of this page was intentionally left blank.]

F/S - 11
</page>
<PAGE>

                        METALLINE MINING COMPANY
                       An Exploration Stage Company
                     Notes to the Financial Statements
                              July 31, 2000


SIGNATURES

	In accordance with Section 12, 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                  			METALLINE MINING COMPANY

                                    	BY: 	/s/ Merlin Bingham
		                                        -----------------
	                                         Merlin Bingham,
	                                         its President
	                                         Date: September 14, 2000


                                   	By: 	/s/ Wayne L. Schoonmaker
		                                       ------------------
	                                        Wayne Schoonmaker, its
	                                        Principal Accounting Officer
	                                        Date: September 14, 2000

     Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated:

 By: /s/ Merlin Bingham			          By: 	/s/ Jim Czirr
	    ------------		                   			---------
     Merlin Bingham	                     Jim Czirr
     Director	                           Director
     Date: September 14, 2000	           Date: September 14, 2000

 By: /s/ Daniel Garski            		By: 	/s/ Wayne L. Schoonmaker
     -----------------	                  ---------------
     Daniel Gorski	                      Wayne Schoonmaker
     Vice President/Director	            Secretary/Treasurer, Director
     Date: September 14, 2000	           Date: September 14, 2000


 By: /s/ Mario Ayub Touche
     -----------------
     Mario Ayub Touche
     Director
	    Date: September 14, 2000

                                F/S - 12
</page>